Asana Hits $1.5 Billion Valuation Through New Funding Round

By Dan Anderson ● December 1, 2018

Asana, a San Francisco-based work management platform company, announced that it has raised $50 million in Series E funding led by London-based Generation Investment Management — which is an investment firm founded by former United States Vice President Al Gore. 8VC, Benchmark Capital, Founders Fund, Lead Edge Capital, and World Innovation Lab also participated in this round.

“At Generation Investment Management, we’re grounded in the philosophy that through strategic investments in leading, mission-driven companies we can move towards a more sustainable future,” said Colin le Duc — who is a co-founder and partner Generation Investment Management and is a board member at Asana. “We see Collaborative Work Management as a distinct and rapidly expanding segment, and Asana has the right product and team to lead the market. Through Dustin and the team, Asana is changing how businesses around the world collaborate, epitomizing what it means to deliver results with a mission-driven ethos.”

Now Asana has a valuation of $1.5 billion, which is up from $900 million from the company’s last round thus making the company “unicorn status.”

Asana was founded by Dustin Moskovitz (Facebook co-founder) and Justin Rosenstein (former Google and Facebook executive). Since launching, the company raised $210 million in total funding. Some of Asana’s previous investors include Sean Parker, Ron Conway, Owen Van Natta, Marc Andreessen, Joe Green, Peter Thiel, Mark Zuckerberg, and Y Combinator.

Moskovitz said that the company is “focused on supporting our expanding international team and customer base to meet the growing demand to democratize project management and improve team coordination.”

About 50% of the company’s revenue comes from outside of the US, according to VentureBeat. And last year, Asana expanded beyond English. Now it is available in French, German, Spanish, and Portuguese.

And the company is now rolling out in Japan with localized support, including the hiring of a team in Tokyo. Plus the company is opening the first Asana office in Sydney later this month.